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Latest Fbr news updates — Federal Board Of Revenue Government Of Pakistan – Get latest FBR News updates, Watch FBR Videos, View FBR Pictures.

FBR to investigate income tax details of affluent segments

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FBR Releases Updated Tax Card for Salaried Workers for 2024-25

The Federal Board of Revenue (FBR) has decided to launch an investigation into the income tax records of the affluent segments of the country. According to official sources, FBR is actively collecting data on members associated with powerful entities such as industrialists, lawyers, and doctors associations. This comprehensive effort involves scrutinizing identity card numbers and … Read more

Non-filers to face power, gas disconnection: FBR

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FBR
  • Notices will be issued to unregistered persons in first phase.
  • The mobile phone SIMs of non-filers will be blocked.
  • FBR planned to bring 1.5 million to 2 million new taxpayers.

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to take action against the non-filers and said that after receiving the notice, the electricity and gas connections of those who do not file tax returns will be cut off and mobile phone SIMs will also be blocked.

According to FBR, in the first phase, notices will be issued to unregistered persons, upon receipt of notices, the mobile phone SIM of those who do not file tax returns will be blocked and electricity and gas connections will be cut.

The Federal Board of Revenue has planned to bring 1.5 million to 2 million new taxpayers into the tax net by June next year and NADRA has also assured support.

According to the announcement issued by the FBR, 145 District Tax Offices headed by grade 17 officers have been established across the country to broaden the tax base by bringing 1.5 million to 2 million new taxpayers into the tax net by June 2024.

This initiative will increase the tax-to-GDP ratio to the desired level, by obtaining and using third-party data on potential taxpayers.

According to FBR, action will be taken against non-filers based on this data, and various institutions and departments will be obliged to provide data through an automatic transmission system.

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FBR, Customs will be restructured, says Shamshad

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ISLAMABAD: The government, under the stewardship of caretaker Finance Minister Dr. Shamshad Akhtar, has declared its intention to institute reforms in the Federal Board of Revenue (FBR), with a key change involving the separation of customs from the revenue collection process. This move is designed to address perceived conflicts of interest and underscores the government’s … Read more

FBR appoints focal person for scrutiny of nomination papers

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FBR
  • The focal person will assist Election Commission of Pakistan.
  • FBR also directed all field formation heads to nominate team.
  • All nominated teams will be headed by Commissioner.

ISLAMABAD: In connection with the preparations for the general elections in the country, the Federal Board of Revenue (FBR) has appointed a focal person for the scrutiny of nomination papers.

According to the announcement issued by FBR, the focal person will assist the Election Commission of Pakistan (ECP) in the scrutiny of the nomination papers of the candidates.

The Chief Revenue Operations Arshad Nawaz Cheena, Secretary of Revenue Budget Bilal Zameer, Second Secretaries of IR Sadaf Ehsan, Sohail Abbas, and Sec. Secretary IR Litigation Alishba Asif is also included in the 5-member focal person.

FBR has also directed all the Field Formation Heads to nominate a team consisting of two officers. All the nominated teams will be headed by a Commissioner who will act as focal persons in their areas.

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FBR denies end-of-income tax exemption for Rs 50,000 salary

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FBR
  • The tax exemption on monthly income will continue.
  • Tax exemption for Rs 600,000 is not being abolished.
  • Imposing taxes on low-income group will not consider.

ISLAMABAD: The Federal Board of Revenue (FBR) officials denied ending the income tax exemption on monthly income of Rs 50,000 and said that the tax exemption will continue.

The Federal Board of Revenue (FBR) is in the process of negotiating with the International Monetary Fund (IMF). Officials said that there will be no discussions with the IMF on imposing new taxes and the issue of imposing taxes on the low-income group will not be considered.

FBR officials said that the income tax exemption for those earning Rs 50,000 per month will continue and tax exemption for those earning Rs 600,000  per year is not being abolished.

Officials have said that there is no policy or proposal under consideration to withdraw the tax exemption and the World Bank has not suggested reducing the existing limit of Rs 600,000.

According to officials, the implementation of a tax on income from the agricultural sector is also a provincial matter.

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Increasing Tobacco Taxes to Combat Inflation: A Path to Health and Prosperity

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Tobacco Taxes

Islamabad – October 27, 2023: At an event hosted by the Society for the Protection of the Rights of the Child (SPARC), dedicated health activists reinforced the pressing need for a consistent uptick in tobacco taxation that aligns with inflation. They highlighted its pivotal role in curbing tobacco consumption and safeguarding public health. Zaheer Qureshi, … Read more

ECP decides to adopt open-door policy for international observers in general polls

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ECP

The ECP held a meeting regarding general polls. The electoral body issued instructions to the Ministry of Foreign Affairs. The Election Commission was ordered to complete the visa process expeditiously. Islamabad: The Election Commission of Pakistan (ECP) has decided to adopt an open-door policy for international observers in the general elections and issued instructions to … Read more

FBR constitutes special committees to introduce single tax portal 

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FBR
  • Chairman FBR constituted three special committees of 10 officers.
  • Preparations have been made to bring single portal for sales tax.
  • The tax facility is being considered for sales taxpayers in one portal.

ISLAMABAD: The Federal Board of Revenue (FBR) has started considering providing tax facilities to sales taxpayers in one portal.

According to the details, preparations have been made to bring a single portal for sales tax across the country. Sources have said that the tax facility is being considered for sales taxpayers in one portal.

In this regard, Chairman FBR constituted three special committees of 10 officers and issued a notification, which states that the supervisory committee will include a reform member of grade 21 Ardsher Saleem.

In the Supervisory Committee, Grade 21 member IT Dr. Nasir, in the Implementation Committee, including Grade 20 Zain ul Abideen, 5 other officers are also included, while Grade 20 Program Director Muhammad Khalid and Sadia Akmal are also part of the committee.

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FBR decides to audit retailers, real estate taxpayers

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FBR
  • The new strategy of  FBR has come out against tax evaders.
  • FBR issued warning to retailers to avoid errors in income tax.
  • Regional Tax Offices will conduct audit of real estate taxpayers.

ISLAMABAD:  The Federal Board of Revenue (FBR) has decided to audit retailers and real estate taxpayers who have submitted income tax returns.

The new strategy of the Federal Board of Revenue (FBR) has come out against tax evaders, it has been decided to audit retailers and real estate taxpayers who submit income tax returns.

FBR has issued a warning to retailers to avoid errors in income tax and sales tax. The income tax and sales tax returns of retailers will be audited.

FBR sources said that the decision on the audit of income tax and sales tax of retailers will be made in the respective Regional Tax Offices(RTO).

Sources said that a strategy was also made against tax evasion in real estate, audits of taxpayers of real estate will also be conducted and audits of taxpayers’ returns will be done by the respective RTOs.

According to FBR sources, there will be no balloting for tax audit, instead of draw, the concerned RTOs will be able to choose under discretionary powers.

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FBR amends customs rules for Pak-Afghan transit operation  

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FBR
  • The condition of financial security imposed on goods.
  • Financial guarantee for one year can be cashed in Pakistan.
  • Bank guarantee will also cover taxes and duties levied on goods.

ISLAMABAD: The Federal Board of Revenue (FBR) has issued a notification to amend the Customs Rules, 2001 under which the rules have become more stringent for those going to Afghanistan via Pakistan.

According to the FBR announcement, the condition of financial security has been imposed on the goods going to Afghanistan and the financial security will be given in the form of an authorized bank guarantee, while the financial guarantee will be for at least one year and can be cashed in Pakistan. The Bank guarantee will also cover taxes and duties levied on vehicles and goods.

The notification said that the new conditions would apply to importers, customs agents, brokers, and transport operators. The purpose of the amended rules is to provide financial security to the Pak-Afghan transit operation.

The FBR notification said that customs clearance of goods to Afghanistan will be done through a computerized system and at least 25 percent of transit goods will be scanned after goods declaration.

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FBR May Extend the Deadline for Filing Income Tax Returns

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FBR May Extend the Deadline for Filing Income Tax Returns

FBR is considering a one-month extension for income tax return filing. The official announcement is expected in 1-2 days through an FBR income tax circular. The module poses challenges for non-residents and has data issues with tax deductions. The Federal Board of Revenue is considering extending the deadline for filing income tax returns by one … Read more

Banks to extend working hours on September 30 for tax collection

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Banks to extend working hours on September 30 for tax collection

Banks with Saturday hours will stay open until 5:00 p.m. on September 30 to aid in tax payments. This decision was made in response to a request from the Federal Board of Revenue (FBR). Banks should stay open until the special clearing session at 5:00 p.m. on September 30 is finished. The State Bank of … Read more

FBR decides not to extend deadline for filing income tax returns

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FBR
  • The last date for filing income tax returns is September 30.
  • More than 1.7million  people have filed their tax returns.
  • Income tax returns are likely to cross 2 million till September 30.

ISLAMABAD: The Federal Board of Revenue (FBR) has decided not to extend the last date for filing tax returns.

According to FBR, the last date for filing income tax returns is September 30, so far more than 1.7million  people have filed their tax returns.

FBR officials say that income tax returns are likely to cross 2 million till September 30.

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Rangers, Customs seizes smuggled goods in Karachi

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smuggled goods

The Customs Intelligence and Rangers conducted joint operations in Karachi. 14 trucks of smuggled goods are in the custody of rangers. Customs also launched operations at the Sohrab Goth bus stand. Karachi: Customs Intelligence and Rangers conducted a joint operation at Yousuf Goth Bus Terminal and recovered smuggled goods from the seige area. Smuggled tires, … Read more

FBR unfreezes accounts of cash-strapped PIA

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FBR PIA

The Federal Board of Revenue (FBR) on Wednesday unfreezes the accounts of the loss-making Pakistan International Airline (PIA). PIA is to make FBR a massive payment of Rupees 2.5 billion out of the pending 8 billion amount. A week ago, FBR had frozen all bank accounts of PIA for non-payment of federal excise duty. Following … Read more

Pakistani government loses millions in tax revenue due to non-compliance

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Pakistan tax revenue

Only 50,000 out of 100,000 registered companies in Pakistan are filing taxes. SECP and FBR are urged to collaborate to improve tax compliance. Virtual One Stop Shop (VOSS) simplifies registration but data sharing needs a boost. In Pakistan, only half of the 100,000 companies registered with the Securities and Exchange Commission of Pakistan (SECP) are … Read more

PayPal and Stripe’s Pakistan Arrival Confirmed!

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PayPal and Stripe's Pakistan Arrival Confirmed!

The government has approved a comprehensive project aimed at advancing the IT industry. The project aims to remove obstacles to IT exports and increase them to $10 billion. The professionals will play a role in increasing IT exports by $5 billion. After a meeting with Caretaker Prime Minister Anwaarul Haq Kakar, IT Minister Dr. Umar … Read more

FBR has set new ambitious targets for expanding taxpayer base

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FBR has set new ambitious targets for expanding taxpayer base

ISLAMABAD: Federal Board of Revenue (FBR) has set new ambitious targets for the current fiscal year to expand the taxpayer base and get more retailers integrated into the Point-of-Sale (POS) system of the FBR. In FY23, the FBR claimed that 182,000 new taxpayers had joined the tax system. In a briefing to the Caretaker Prime … Read more

FBR freezes bank accounts of PIA over non-payment

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PIA
  • Bank accounts frozen over non-payment of Rs 8b FED.
  • FBR also decided to file an FIR against the PIA officials.
  • PIA Spokesperson said flight operations will not be affected.

KARACHI: The Federal Bureau of Revenue (FBR) on Thursday froze 13 bank accounts of Pakistan International Airlines (PIA) over non-payment of Federal Excise Duty (FED).

FBR authorities say that 13 bank accounts of PIA have been frozen while taking action on the non-payment of Rs 8 billion Federal Excise Duty (FED).

According to the officials, FBR has also decided to file an FIR against the PIA officials for not depositing the FED, despite opening the accounts last month, the money was not deposited.

According to the officials, FBR also decided to file an FIR against the PIA officials for not submitting the FED, despite opening the accounts last month as well.

The spokesperson of PIA said flight operations of PIA will not be affected due to account freezing. He said communication is underway at the government level and hoped that PIA accounts will be restored soon.

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PTA Reduces Registration Fee for Older iPhones

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PTA Reduces Registration Fee for Older iPhones

The PTA has reduced the registration fee for older iPhones. The reduced registration fee applies to iPhones that are not the latest models. The adjustment in registration fees is a positive step towards supporting iPhone users in Pakistan. In a move that brings relief to iPhone users in Pakistan, the Pakistan Telecommunication Authority (PTA) has … Read more

FBR notifies restructure of Directorate General of Reforms and Automation-Customs

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ISLAMABAD: The Federal Board of Revenue (FBR) has revised the functional jurisdiction of the officials of the Directorate General of Reforms and Automation-Customs under the reorganization plan. The FBR issued S.R.O. 1088 (I)/2023 on Tuesday to notify the re-organization of the Directorate General of Reforms and Automation-Customs. The FBR has also revised the powers and … Read more

FBR condemned for slapping tax on immovable property

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FBR condemned for slapping tax on immovable property

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) President Mohammed Tariq Yousuf has condemned the Federal Board of Revenue (FBR) for its “biased attitude” as it has imposed a tax on sale or transfer of immovable property in Karachi while the same tax has been withdrawn in Punjab. The KCCI President demanded a similar treatment … Read more

FBR’s NOC mandatory for purchase or sale of property to prevent tax fraud

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FBR’s NOC mandatory for purchase or sale of property to prevent tax fraud

ISLAMABAD: The Federal Board of Revenue (FBR) recently put into effect a new regulation that requires getting a No Objection Certificate (NOC) from the FBR prior to purchasing or selling property in an effort to prevent tax fraud and promote transparency in real estate transactions. With the passage of this law, the government hopes to … Read more

FTO asks Customs to Fix Imported Mobiles’ Valuation Errors

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Best New and Used Mobile Phones Under Rs50,000 in Pakistan

The FTO directed Customs Valuation Karachi to rectify valuation and assessment errors for imported mobile phones. The FTO (Fair Trade Organization) is an independent body that investigates complaints of unfair trade practices. The FBR (Federal Board of Revenue) is the government agency responsible for collecting taxes in Pakistan. The FTO has instructed Customs Valuation Karachi … Read more

Customs seized electronic cigarettes worth millions of rupees

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Customs seized electronic cigarettes worth millions of rupees
  • Customs seized huge amount of smuggled electronic cigarettes.
  • More than 20,000 smuggled electronic cigarettes recovered.
  • The value of seized smuggled goods is over Rs 90 million.

KARACHI: Federal Board of Revenue (FBR) Customs Intelligence and Investigation recovered smuggled electronic cigarettes worth millions of rupees in a major operation in Karachi.

FBR Customs Intelligence and Investigation seized a huge amount of smuggled electronic cigarettes during a raid in a building on Shahrah e Faisal on a tip-off.

Under the direction of Director Customs Intelligence Habib Ahmed, the smuggling team raided the building and recovered more than 20,000 smuggled electronic cigarettes, their parts, and flavors.

The value of seized smuggled goods is over Rs 90 million. The owner of the smuggled goods could not produce its legal importation document. The intelligence team arrested the owner and registered a case. The accused is being interrogated about other accomplices.

According to DG Customs Intelligence Habib Ahmed, this is the biggest operation in the country’s history which has been foiled by the FBR Anti-Smuggling Karachi team.

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